Charter's loss narrows, cash flow rises in Q2

AllenWan

Cable television operator Charter Communications
CHTR, -1.85%
reported a narrower loss and higher operating cash flow in the second quarter, helped by growth in Internet subscribers. The company, which is controlled by Microsoft co-founder and cable magnate Paul Allen, reported a net loss of $202.7 million, or 69 cents a share, compared with $273.9 million, or $1.07 a share in the previous year. Charter said earlier in the year it expected a loss in the range of 65-70 cents a share. Quarterly operating cash flow jumped to $501.1 million from $428.1 million a year ago. Revenues rose to $1.16 billion -- up from its forecast range of $1.145-$1.155 billion and last year's $928.5 million.

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